4 May 2017

BULLION OUTLOOK FOR 04-05 MAY 2017

SELL
GOLD @ 28200 SL 28350 TGT 28000-27850.

SELL SILVER @ 38100 SL 38500 TGT
37800-37500.

Gold:Gold trading range for the day is 28502-28686. Technically market is
getting support at 28542 and below same could see a test of 28502 level, And
resistance is now likely to be seen at 28634, a move above could see prices
testing 28686. Gold is trading into negative zone and traders
can hold short positions until Gold closes above 28723 levels.
Traders can initiate short positions on every rise until Gold closes
above 28723 levels.

R2

R1

S1

S2

TREND

GOLD

28700

28500

28200

28000

BEARISH

Silver:Silver
trading range for the day is 38734-39664. Technically market is getting support
at 38900 and below same could see a test of 38734 level, And resistance is now
likely to be seen at 39365, a move above could see prices testing 39664. Silver
is trading into negative zone and traders can go short at every
rise or hold short positions until Silver closes above 39032
levels.